Tag: mount grace

Tsogo Sun CEO on the takeover of Marriott hotels

U.S company on moves out the hotel business and S.A is moving in. US hotel giant Marriot is going to ditch three of South Africa’s oldest hotels in the face of Covid-19. In from the wings stepped in home grown hotel group Tsogo Sun – which already hold shares in these hotels – to take them over to try and save them. Is this a fire sale or just merely shrewd buying in at the bottom of the market? Tsogo Sun Hotels CEO, Marcel von Aulock joins CNBC Africa for more.